KEN MORRIS: If it weren’t for the past, we might not have a future

As a financial advisor I have no shortage of reading material pertaining to financial planning and investing. What’s more, it’s necessary for me to constantly keep reading in order to keep current in an ever-changing financial environment.

For example, tax laws have recently changed; a major planning strategy for Social Security called file and suspend was eliminated just over a year ago; and the investing world continues to change by the minute.

So staying current is a full-time job. But whenever time permits, I enjoy reading about American history.

We just honored our military veterans on Memorial Day. The anniversary of the D-Day invasion, where many of our soldiers lost their lives in France, is just a few days away.

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As virtually all Americans should, I owe a great deal of gratitude to those that fought and continue to serve to maintain our freedom. Our history books are filled with stories about those that paid a steep price for this freedom, and that includes our economic freedom.

I acknowledge that this freedom comes with great responsibility. And I fear that too many of us take for granted the many things we have that so many others around the globe wish they had.

With all the high school and college graduation ceremonies about to commence, it’s important to remember that those young adults earned their diplomas and degrees.

They weren’t just handed sheepskins; they worked hard for them. High school graduates had to meet state requirements. For college grads,

it was the standards of their chosen fields.

There are educational opportunities out there for everyone. Beyond high school, there are trade schools and affordable community colleges that offer career-starting two-year degrees. And if a student can’t qualify for a scholarship at a university, student loans are always available.

The bottom line is that anyone who wants to get an education can do so, one way or another. Unfortunately, that’s not the case everywhere in the world.

The foundation of our nation provides the framework for learning and earning a degree in a chosen field. But it’s important for all graduates to remember that just because they’ve earned a college degree, it doesn’t they’ll automatically enjoy or even deserve a great lifestyle.

That, too, has to be earned, and there’s likely to be a steep learning curve. The world is a competitive place and you’re not only competing against former classmates, but also peers who graduated with similar degrees from other schools. And that includes the best and brightest minds from all over the world.

This is a global economy; the competition is fierce and likely to remain that way. For most graduates, the biggest investment they’ve made so far is in themselves.

They’ve invested time and effort and quite often, their parents’ money. They are put into a position to succeed thanks to the freedom that was secured and provided by all before them.

We should never take this opportunity for granted. We may be a divided nation with diverse opinions on many issues. But the greatest thing about our nation is our freedom.

Whatever path we choose in life, it’s the path we were free to choose. Financially, it may be difficult, but I’m confident that those who work hard will achieve financial success.

E-mail your questions to kenmorris@lifetimeplanning.com. Ken is a Registered Representative of LPL Financial. Ken is Vice-President of the Society for Lifetime Planning. All opinions expressed are those of Ken Morris. LPL and Society for Lifetime Planning are independent companies. Securities offered through LPL Financial, Member FINRA/SIPC. Investing involves risk including loss of principal. No strategy assures success or protects against loss.